Program - Buyouts & Acquisitions

The GLO is currently administering $275 million in funds for Hurricane Harvey local buyouts and acquisitions. These funds were distributed based on Methods of Distribution developed by the Regional Councils of Government. Local government entities may select between the two programs based on the specific needs of their communities.

Buyout

A Buyout Program uses CDBG-DR funds to purchase properties in qualifying target areas prone to flooding events and demolishes the structures on the properties to create park amenities, open space, or flood storage/overflow areas. Buyout Programs are especially effective in communities that have endured multiple disasters in the same neighborhood in the recent past, or sustained severe damage where there is high risk of additional disasters, such as a 100-year floodplain. These programs can help reduce the impact of future disasters while encouraging targeted revitalization efforts and public spaces.

Acquisition

Acquisition of Real Property, using post-disaster property values allows subrecipients to acquire real property for any public purpose, as set forth (24 CFR 570.201(a)). Acquisition-only is typically not considered a complete activity in the Program and must be combined with another eligible use (i.e. relocation assistance and new construction of housing). Methods of acquisition include purchase, long-term lease (15+ years), donation or otherwise (HUD CPD-17-09 notice).

Local Buyout & Acquisition Application & Resources

Local Buyout and Acquisition Subrecipient Application - This application is for the residential Local Buyout and Acquisition Program for Hurricane Harvey CDBG-DR funding. It was created to be used for the buyout or acquisition of residential housing activities affected by Hurricane Harvey.

Local Buyout and Acquisition Subrecipient Application ChecklistSubrecipients must develop and publish program guidelines that capture program details and actions the subrecipient will take to delivery either a buyout or acquisition program. At contracting, the subrecipient will have 60 days to submit its locally approved guidelines to the GLO for approval. As a result, a 30-day public comment period is not required at application, unless the subrecipient policies and procedures locally require it.

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